Vancouver's Real Estate Market

[JDMDreams]

No one is forcing them to buy that 2 bed room condo, they can buy the 5 bed room house somewhere else.

It's your choice, gotta pay to play. I don't go up to Bugatti and slap the hood how much, I'm poor I have $3. It's my right and freedom to own a Bugatti.

[68style]

^
You sound like someone who works from home every day

[Great68]

If you're using car analogies, a 2 bedroom outer core area condo is more akin to a Toyota Yaris.

"Gotta pay to play man, YARIS!"

[westopher]

Originally Posted by JDMDreams

No one is forcing them to buy that 2 bed room condo, they can buy the 5 bed room house somewhere else.

It's your choice, gotta pay to play. I don't go up to Bugatti and slap the hood how much, I'm poor I have $3. It's my right and freedom to own a Bugatti.

As usual you make the stupidest fucking comparison on the planet.

[JDMDreams]

Ok so tell me what magic wand do you want the charity of Canada to waive so everyone can buy a 2 bed room condo in their most expensive city for $300k? Sign me up cuz I'll be donk and buy a few blocks in Calgary and Regina to slumlord along with that Bugatti.

You gotta be realistic, it's simple math, supply and demand, there will never be enough supply in Vancouver to bring down prices to what you call affordable nor will the cost to build be down enough to be that cheap. You odds of winning the lottery might be higher.

If you can't afford $500k will a 10% crash help you? Now it's $450k. Even at a 20% market crash, it drops to $400k. And that crash has happened already as prices have remained flat for the last few years and you are not going $100k over asking on a condo.

If you can't afford there's only 2 options A. make more money, B. Move somewhere cheaper.

[Eff-1]

I do think min wage earners should at least be able to afford to rent a place to live (not luxury of course), but something clean and near decent transit.

That's a bigger problem imo.

[Gerbs]

Originally Posted by Eff-1

I do think min wage earners should at least be able to afford to rent a place to live (not luxury of course), but something clean and near decent transit.

That's a bigger problem imo.

I wonder if Vancouver will see a big crisis in lack of service/retail workers beyond the current economy in a few years. Seems like there's a ton of demand for retail/service staff at $19 - 22/hour the last 3 years.

[twitchyzero]

telling someone to move somewhere cheaper is just displacing the natives of that new place as affordability there also goes to shit

it's sucha negative cycle that doesnt fix anything

[JDMDreams]

Maybe the charity government should print more money so they can hand out more money and people will have more money to buy houses ??? O wait

[68style]

Or you can just wait until The Purge happens for reals, work on your panic room in the meantime, society can't exist without some poors around to do your chores for you bud

[Traum]

Originally Posted by Eff-1

I do think min wage earners should at least be able to afford to rent a place to live (not luxury of course), but something clean and near decent transit.

I am a Conservative at heart, so I naturally do not favour the government stepping in to use taxpayer funding to do stuff if it can be avoided. But at our current level of unaffordability, the only solution I see is for either the provincial and/or federal gov to step in and start providing widespread public housing. Because for society to function, we need the full spectrum of income earners.

It really is that simple.

[Badhobz]

Yeah I can’t find a skanky French maid to save my life. Stupid Vancouver

[68style]

Originally Posted by Badhobz

Yeah I can’t find a skanky French maid to save my life. Stupid Vancouver

You're gonna have to go darker in the spectrum my friend

[PeanutButter]

Originally Posted by Badhobz

Yeah I canÂ’t find a skanky French maid to save my life. Stupid Vancouver

Speaking of maids... more and more of my friends have a cleaner that comes once every two weeks about four hours per clean =$120 for four hours every two weeks

Does anyone else have cleaners? $120 every two weeks doesn't seem horrible.

[Badhobz]

all jokes aside, i was actually looking for one to come in every week. Only problem is the chihuahua's wont like the intrusion and the wife is afraid of theft.

So i guess ill have to keep wearing the skimpy french maid outfit

[Tapioca]

Originally Posted by PeanutButter

Speaking of maids... more and more of my friends have a cleaner that comes once every two weeks about four hours per clean =$120 for four hours every two weeks

Does anyone else have cleaners? $120 every two weeks doesn't seem horrible.

Pretty common amongst young families these days.

We've had a cleaner for almost 5 years.

[JDMDreams]

At the rate they let new immigrants in your chances of hiring a thic consuela is higher

[CivicBlues]

Consuela? More like Changrapreet for Canada

[unit]

i used to have a cleaner come in and help me out with my 1br basement suite because i was a lazy bastard lol.
she'd come once a week and do 4 hours, i'd only pay $60 (this was 12 years ago or so).

if you live in a house and have a cleaner come every 2 weeks, don't expect much to get done. it's not enough time for one person and 4 hours to make a meaningful dent in your cleaning unless you're already a very clean person in the first place. 4 hours means vacuuming, sweeping, wiping surfaces, maybe spending 10m cleaning each bathroom, wiping the kitchen clean, and that's about it. if you expect them to tackle window cleaning, baseboard cleaning, thorough bathroom cleaning, etc... in that time, you need 2 cleaners for 4 hours.

[Hondaracer]

Originally Posted by Traum

I am a Conservative at heart, so I naturally do not favour the government stepping in to use taxpayer funding to do stuff if it can be avoided. But at our current level of unaffordability, the only solution I see is for either the provincial and/or federal gov to step in and start providing widespread public housing. Because for society to function, we need the full spectrum of income earners.

It really is that simple.

In b4 rampant corruption builds half the units at double the cost.

[Badhobz]

Originally Posted by unit

i used to have a cleaner come in and help me out with my 1br basement suite because i was a lazy bastard lol.
she'd come once a week and do 4 hours, i'd only pay $60 (this was 12 years ago or so).

if you live in a house and have a cleaner come every 2 weeks, don't expect much to get done. it's not enough time for one person and 4 hours to make a meaningful dent in your cleaning unless you're already a very clean person in the first place. 4 hours means vacuuming, sweeping, wiping surfaces, maybe spending 10m cleaning each bathroom, wiping the kitchen clean, and that's about it. if you expect them to tackle window cleaning, baseboard cleaning, thorough bathroom cleaning, etc... in that time, you need 2 cleaners for 4 hours.

i want them on their hands and knees scrubbing my tiles.

wonder if i can get these lousy intern kids to do it, and claim it as "work experience"

[Hondaracer]

https://vancouver.citynews.ca/2023/0...e-maximum-3-5/

Next years maximum allowable rent increase set at 3.5%

So they move away from the traditional model of inflation + 2%..

What’s the incentive to be a landlord when you can’t cover your costs of a rental unit?

Add in the million plus international students we will bring in next year, and good luck lol..

I’m b4 rental unit shouldn’t turn a profit communism take

[Great68]

I have no sympathy for holders of secondary properties whining about being unable to afford them due to rents being too low.

Sell it then, let it go back into the housing market. Simple as that.

[Traum]

Bear in mind that the rent increase cap only applies to existing tenants. If landlords were to rent a unit out to new tenants, they are free to charge whatever they want.

That said, if you are a landlord with an existing tenant, you're fxxked if you are stuck in a situation where you are unable to recover your cost. Your only option in that case is to sell your rental unit, but the unit will be less appealing to potential buyers because only those moving into the unit themselves would be interested.

As a right-leaning person, I obviously do not agree with this policy because it would only exacerbate the rental supply shortage. If this below-inflation rent hike were to be kept, at least legislation should be amended to allow landlords to split the cost of repairs and maintenance (including strata fees) with the tenant. Currently, those are all counted as business operating costs for the landlord.

Originally Posted by Hondaracer

https://vancouver.citynews.ca/2023/0...e-maximum-3-5/

Next years maximum allowable rent increase set at 3.5%

So they move away from the traditional model of inflation + 2%..

What’s the incentive to be a landlord when you can’t cover your costs of a rental unit?

Add in the million plus international students we will bring in next year, and good luck lol..

I’m b4 rental unit shouldn’t turn a profit communism take

[Hondaracer]

Originally Posted by Great68

I have no sympathy for holders of secondary properties whining about being unable to afford them due to rents being too low.

Sell it then, let it go back into the housing market. Simple as that.

Lol.. do you think that will have anything but an adverse overall impact?

Landlord X has a unit, they aren’t a wealthy person by any means but inflation and all the other factors have contributed to them being underwater with the unit

Landlord X then is forced to sell the unit, new Landlord Z evicts current tenant as part of the sale and charges whatever they want for new unit

It’s a net loss for everyone involved outside of the new owner.